profit and loss shortcut formulas and Solved Questions

Already we have posted two posts about profit and loss chapter 1) The basic concept and shortcut formula,  and 2) Shortcut formula and aptitude question with the tricky solution. If you have not visited the previous two tutorials then we highly recommend you, please visit both pages. Now we are looking forward to the formula to find selling price and cost price where Gain percentage and cost price is given in the math question. All the solution will be in the tricky methods to save time in the competitive examination hall. Because our main goal is to solve math in less time using math tricks to save time in the competitive exam hall. Here we will take the data in math question to calculate easily because here, we just learning shortcuts formula and memorizing formula of profit and loss.

The formula for Selling Price: Profit & Loss

When the gain percentage is given in the question then we will use the formula {(100+Gain%)/100}*C.P 
When loss percentage is given in question then, we will use the formula
Please note, here is the only difference between the two formula is +Gain percentage’ and - Loss percentage’. So remember this difference to easily remember this formula.

Example questions on Selling Price from Profit and Loss

Example question 1:-
A mobile seller sells an Android mobile at the profit 10. If the cost price of the mobile was 5000, then find the selling price.
In this question, we have new the profit Gain% (profit) and cost price 5000. To get Cost Price we will put the value into the formula and calculate the Cost Price.
Let’s see  
{(100+10)/100}*5000 ={110/100}*5000
=110*50 =5500.
This kind of calculation, you can calculate easily without any copy pen. But, when you have to calculate a decimal number or a big number then it will be helpful for you.
Look at another Example when a seller sells any product in the loss, then how to calculate the Selling price!

Solved Question of profit and loss 

An electronic projector seller sells a projector at the loss of 20%. If the cost price of the projector was Rs 20,000 then find the selling price.
Like as previous question solution we will put the value in the formula. In the previous question of the math, the seller was sold the product at profit, but here the shopkeeper selling in the loss. So here will change in the formula ‘-loss’ percentage in place of ‘+Gain’ percentage. Let’s see the formula solution-
=80*200 = 16000

Read more on Profit and loss

I hope you have learnt the formula very well. We have just discussed two formula which will help you in your upcoming examination like SSC CHSL, SSC CGL, PSC, I.B, RAILWAY RECRUITMENT, Banking examination and much more upcoming competitive examination. Here we are not ending this chapter. We have learned more formula to answer any math problem from the chapter Profit and Loss. It was the 3rd tutorial based on profit and loss. Inviting you to our next Profit and Loss math tutorial where we will discuss the Cost price where a seller sells any product in Loss or profit and Selling Price declare in the Question. In this way, we will cover all formula of profit and loss chapter and then we will solve some important math question which may ask for the competitive examination. And we have made a section name competitive math where we solve advanced level math by math tricks. Where we post most important math with the tricky solution by shortcut formula. You may visit the competitive math page if you no need more profit and loss aptitude tricks. 

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